Section 46(3) in The Gujarat Agricultural Universities Act, 2004
(3)The University Fund shall be kept in any corresponding new bank specified in column 2 of the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and in column 2 of the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980) and approved by the State Government for the purpose or invested in securities authorised by the Trusts Act, 1882 (2 of 1882) at the discretion of the Board.
